HDFC to fund business growth model by raising Rs 1000 crore from debentures
Mortgage lender HDFC has announced its plans to raise Rs. 1,000 crore from debentures to fund business growth model.
New Delhi: Mortgage lender HDFC has announced its plans to raise Rs. 1,000 crore from debentures to fund business growth model.
According to a statement released by the company, the funds would be raised through secured redeemable non-convertible debentures.
"The issue will open for subscription on June 15 and close the same day. The object of the issue is to augment the long-term resources of the company," it said.
The debentures would carry a coupon rate of 8.46 percent per annum, it added.
Housing Development Finance Corporation closed at Rs. 1230.80, down Rs. 7.6 or 0.61 percent, on June 10, 2016 beating its 52-week high of the share of Rs. 1370.80 and the 52-week low of Rs. 1012.00.
The company's trailing 12-month (TTM) EPS was at Rs. 44.88 per share as per the quarter ended March 2016.
